Ethanol Bid Rigging

Ethanol Bid Rigging 29

On Sep 18, 2018, the Competition Commission of India (CCI) imposed a Rs 38 crore penalty on 18 sugar mills and two trade associations, ISMA and EMAI, for rigging bids in joint tenders floated by public sector oil marketing companies (OMCs) for procuring methanol for 5 per cent blending with petrol. On Jan 2, 2013 there OMCs – IOCL, HPCL and BPCL – had invited bids from alcohol manufacturers for supply of ethanol through a joint tender. The tender was issued by BPCL on behalf of all the OMCs.

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